The federal government announced a $400-million financial support for Algoma Steel under its large enterprise tariff relief scheme, Jobs Minister Patty Hajdu said on Monday.

The loan will "help Algoma Steel Inc. continue operations, transition to a business model less reliant on the United States, and limit disruption to its workforce," the government said in a statement.

The Ontario government will also provide a support of $100 million, it said.

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